X account @zhuifei008 said that Blast announced it would cease L2 operations, citing its TVL decline from over 2000000000 USD to about 32000000 USD as an example to comment on the sustainability of the subsidy and airdrop model.
Article
Yesterday, Blast announced that it would cease L2 operations. I think this is a signal worth paying close attention to.
This does not mean that there is no opportunity to invest in VC public blockchains.
Rather:
It is becoming increasingly difficult to attract users through fundraising, subsidies, and airdrops and turn that into a lasting moat.
Before Blast launched,TVL once exceeded 2000000000 USD, but now only about 32000000 USD remains. Ultimately, it chose to exit because operating costs exceeded revenue.https://t.co/GS8vK13p6p
Key points
01
Yesterday, Blast announced that it would cease L2 operations. I think this is a signal worth paying close attention to.
02
This does not mean that there is no opportunity to invest in VC public blockchains.
03
Rather:
04
It is becoming increasingly difficult to attract users through fundraising, subsidies, and airdrops and turn that into a lasting moat.
05
Before Blast launched,TVL once exceeded 2000000000 USD, but now only about 32000000 USD remains. Ultimately, it chose to exit because operating costs exceeded revenue.https://t.co/GS8vK13p6p
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Blast ecosystem and related L2 projects: If the cessation of operations is confirmed, Blast users, applications, and liquidity may face pressure to migrate or exit, which would also reinforce market concerns about the sustainability of L2 models that rely on subsidies to acquire users. Concept note: Fundraising is the process by which a project obtains funding; a fundraising announcement alone cannot prove that a product has been launched or that a token carries an entitlement to returns.
Why it matters to readers
Blast ecosystem and related L2 projects: If the cessation of operations is confirmed, Blast users, applications, and liquidity may face pressure to migrate or exit, which would also reinforce market concerns about the sustainability of L2 models that rely on subsidies to acquire users.
Focus: Blast ecosystem and related L2 projects. Observation period: short to medium term
Risks and unknowns
Whether Blast’s official channels confirm the cessation of L2 operations and the specific timeline
User assets, bridged funds, application migration, and fee arrangements
TVL Independent-source verification of
Blast ecosystem and related L2 projects. Reverse condition for the impact assessment: Blast officially denies the shutdown, or announces and executes continued operations, funding arrangements, and a migration plan.
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Related concepts
Funding
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